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- Oil "megadeal" in the works
Oil "megadeal" in the works
Plus, Ozempic bites into Walmart profits...
*past 24-hour performance
Oil megadeal: Exxon Mobil (XOM) is closing in on a deal to buy Pioneer Natural Resources (PXD), a blockbuster takeover that could be worth roughly $60 billion and reshape the U.S. oil industry. (WSJ)
The highest since 2000: The average 30-year fixed mortgage rate hit 7.49% this week, a fresh 23-year high, mortgage giant Freddie Mac said on Thursday; The rate was 7.31% last week (WSJ)
Ozempic users purchase less snacks: In an interview with Bloomberg, Walmart CEO John Furner claims that the company has seen a drop in food purchasing habits of people taking Ozempic and other weight loss drugs as compared to those who aren’t (Supermarket News)
DirectTV for sale: AT&T (T) has begun to explore options for its 70% stake in DirecTV as it approaches the end of an agreement under which it can legally sell its interest in America’s third-largest pay-TV provider. (Yahoo)
Beer > Cannabis: Cannabis producer Tilray Brands (TLRY) reported a jump in revenue (up 15%) as it diversifies its portfolio and moves deeper into the beer industry (CNBC)
GM sales uptick: General Motors (GM) reported a 21.4% uptick in Q3 U.S. new vehicle sales, surpassing industry forecasts, which had anticipated a 15% to 16% industry-wide increase for the same period. (CNBC)
Border wall part deux: In a public notice, the Department of Homeland Security outlined its intent to build up to 20 new miles of Trump administration-era border barriers in the Rio Grande Valley of Texas, one of the busiest crossing spots for migrants attempting to enter the U.S. (WSJ)
The 3 ways to balance money and meaning: We all make decisions in life that trade-off between what we do for money and how we’d spend our time if money was no object. Read more »
Tax moves to consider now before 2017 cuts expire: The Trump-era tax cuts will phase out at the end of 2025 unless they are extended. Financial advisers say now is the time for retirees—and near retirees—to start planning for that. Read more »
The bull case for Q4: The bear narrative is well understood. At this point, we think it’s worth analyzing the bull arguments in depth as the bull squeeze could be rather violent. Read more »
Michael Jordan, Josh Kushner And The 16 Other New Members Of The Forbes 400 (Forbes)
One Investor’s Uphill Battle to Turn Rewilding Into a Multi-Billion Dollar Industry (Bloomberg)
Compare your life expectancy with others around the world (Washington Post)
Google Searches For "Sell My Airbnb" Surge As Travel Downturn Worsens (ZeroHedge)
T-bills are paying 5.5% risk free, meanwhile, stocks are yielding 1.5% with end of cycle risk.
Let's draw a picture to help bulls understand:
— Mac10 (@SuburbanDrone)
1:00 PM • Oct 4, 2023
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